14 Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago Part 3 of 3 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,200 BB, 500 112,000 10,900 282,000 $ 524,600 $ 36,250 62,500 B3,000 9,400 258,500 $ 449,650 $ 37,800 49,500 52,000 4,000 232,000 $ 375,300 2.18 points $ 129,200 98,000 162,000 135, 400 $ 524,600 $ 73,500 100,000 162,000 114,150 $ 449,650 $ 50,800 80, 600 162,000 81,900 $ 375,300 eBook The company's income statements for the Current Year and 1 Year Ago, follow. Hint For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Print Current Year $ 705,000 $ 437,100 218,550 12,000 9,550 677,200 $ 27,800 $ 1.72 1 Year Ago $ 570,000 $ 353,400 142,500 13,300 8,775 517,975 $ 52,025 References $ 3.21 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago